EUR/USD advances to daily highs, but lacks momentum

EUR/USD advanced to fresh daily highs at the beginning of the American session as the greenback retreated somewhat against European peers.

With no major data scheduled for the rest of the session and with investors having already digested Friday’s strong nonfarm payrolls report, EUR/USD has moved within its recent range, lacking follow-through either side of the board.

EUR/USD recovered from lows and reached a peak of 1.1074 before pulling back slightly. At time of writing, the pair is trading at 1.1060, up 0.14% on the day.

EUR/USD levels to watch

As for technical levels, immediate support levels are seen at  1.1014 (Jul 11 low), 1.1000 (psychological level), 1.0913 (post-Brexit low Jun.24) and then 1.0820 (Mar 10 low). On the other hand, next resistances could be faced 1.1074 (Jul 11 high), 1.1119 (Jul 7 high), 1.1185 (Jul 5 high) and then 1.1225 (100-day SMA).